Leasing and Selling Considerations
Leasing and Selling Considerations. I’m Greg Martin with today’s Fruit Grower Report.
Alex Thomason with Thomason Law & Justice recently spent some time talking about lease/sale considerations for tree fruit growers.
THOMASON: Whether you are leasing or selling it’s going to be painful because it is a personal decision, right, it’s an emotional decision for a lot of you in the succession planning context. They will be painful but it will bear great fruit. I’ve represented lessors and lessees anywhere from a $20-thousand dollar lease to a $20-million dollar lease.
And most of us have heard about some deal that just seemed to go wrong.
THOMASON: The way that deals go sideways are - they’re innumerable. And I’m going to just list a few that you need to pay attention to when you make the determination whether you should lease or sell. Whatever you do, life happens and as much as we like to have handshake deals the problem with handshake deals are that you don’t remember all of the terms because a lease has got lots and lots of terms. So do sales.
And he offers some very basic advice.
THOMASON: If you can’t get good terms on your lease, on your contract, then consider selling. If you can’t get good terms on your sale, then consider leasing. But if you can’t get good terms - don’t just do something, sit there. Don’t just do something, sit there. Make a wise decision before you step into a litigation pitfall.
That’s today’s Fruit Grower Report. I’m Greg Martin on the Ag Information Network.